Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases

Schedule of lease cost and other information

A summary of the Company’s lease cost is as follows (in thousands, except for weighted-averages):

	Year Ended December 31,
	2023			2022			2021
Lease Cost
Operating lease cost (a)(b)	$	10,833		$	11,377		$	11,565
Sublease income (a)		(2,555)			(2,159)			(1,999)
Short-term lease cost (c)		8,882			10,023			5,436
Total lease cost	$	17,160		$	19,241		$	15,002
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from operating leases		9,819			9,406			9,071
Weighted-average remaining lease term in years - operating leases		4.4			5.3			6.4
Weighted-average discount rate - operating leases		6.3	%		6.2	%		6.3	%

(a) All the Company’s material leases are classified as operating leases.

(b) Includes approximately $3.5 million, $3.6 million and $3.5 million of taxes, insurance and maintenance for the years ended December 31, 2023, 2022, and 2021 respectively.

(c) Includes expenses associated with short-term leases of billboard advertisements and is included in “Marketing Funds expenses” on the Consolidated Statements of Income (Loss) for the years ended December 31, 2023, 2022 and 2021.

Schedule of maturities of lease liabilities under non-cancellable leases

Maturities under non-cancellable leases were as follows (in thousands):

	Rent Payments		Sublease Receipts		Total Cash Outflows
Year ending December 31:
2024	$	10,145		(2,138)	$	8,007
2025		10,368		(1,220)		9,148
2026		10,465		(1,077)		9,388
2027		10,441		(1,099)		9,342
2028		3,225		(371)		2,854
Thereafter		598		—		598
Total lease payments	$	45,242	$	(5,905)	$	39,337
Less: imputed interest		5,843
Present value of lease liabilities	$	39,399